B[Guohai Securities: Maintain Alibaba-W “Buy” rating Target price 184 Hong Kong dollars] On October 14, Guohai Securities issued a research report stating that taking into account the continued acceleration of cloud revenue/profit growth, the orderly reduction of losses in the instant retail business, and the gradual stabilization of the traditional e-commerce business, the profit forecast of Alibaba-W has been adjusted. The company’s FY2027-2029 revenue is expected to be 11,312/12,862/1,488.6 billion yuan, respectively, and the net profit attributable to the parent company is respectively 11,312/12,862/1,488.6 billion yuan. 955/1558/214.9 billion yuan, Non-GAAP net profit attributable to the parent company was 1360/1758/236.3 billion yuan respectively, and the corresponding P/E was 18.6x/1 1.4x/8.3x, Neutral gives Alibaba a total target market value of 3.1134 billion yuan in fiscal year 2028, corresponding to a target price of 156 yuan/184 Hong Kong dollars, maintaining a "buy" rating. B[Beijing: Deepen the promotion of "artificial intelligence + consumption" and increase the effective supply of new generation intelligent terminal products such as artificial intelligence mobile phones and computers, smart wearables, and smart robots] On October 10, the Beijing Municipal People's Government issued the "Beijing Plan for Deepening the Construction of an International Consumption Center City during the "15th Five-Year Plan" Period", which mentioned that "artificial intelligence + consumption" will be further promoted. Expand the consumption of digital products and increase the effective supply of new generation smart terminal products such as artificial intelligence mobile phones and computers, smart wearables, and smart robots. Innovate digital content consumption, encourage the use of artificial intelligence technology to assist in the creation of drama, music, dance, art, immersive experiences, etc., launch more high-quality digital cultural products, and increase the supply of radio, television and online audio-visual ultra-high-definition content. Create new scenarios for digital consumption, accelerate the integration of digital technology and consumption scenarios, promote the integration and application of artificial intelligence, virtual reality, ultra-high definition and other technologies with business, education, medical care, culture, tourism, sports and other fields, and create smart business districts and smart stores. Expand digital consumption channels, support digital marketing of physical commercial enterprises, and guide the standardized and healthy development of instant retail, live broadcast e-commerce, etc.
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